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Drone Destination IPO is a book built issue of Rs 44.20 crores. The issue is entirely a fresh issue of 68 lakh shares.
Drone Destination IPO bidding started from July 7, 2023 and ended on July 13, 2023. The allotment for Drone Destination IPO was finalized on Tuesday, July 18, 2023. The shares got listed on NSE SME on July 21, 2023.
Drone Destination IPO price band is set at ₹62 to ₹65 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹130,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹260,000.
Narnolia Financial Services Ltd is the book running lead manager of the Drone Destination IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for Drone Destination IPO are Nikunj Stock Brokers and Share India Securities.
Refer to Drone Destination IPO RHP for detailed information.
| IPO Date | July 7, 2023 to July 13, 2023 |
| Listing Date | July 21, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹62 to ₹65 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 6,800,000 shares (aggregating up to ₹44.20 Cr) |
| Fresh Issue | 6,800,000 shares (aggregating up to ₹44.20 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 17,499,998 |
| Share holding post issue | 24,299,998 |
| Market Maker portion | 500,000 shares Nikunj Stock Brokers Share India Securities |
Drone Destination IPO offers 6,800,000 shares. 1,262,000 (18.56%) to QIB, 945,000 (13.90%) to NII, 2,205,000 (32.43%) to RII 1,888,000 (27.76%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,888,000 (27.76%) |
| Market Maker Shares Offered | 500,000 (7.35%) |
| QIB Shares Offered | 1,262,000 (18.56%) |
| NII (HNI) Shares Offered | 945,000 (13.90%) |
| Retail Shares Offered | 2,205,000 (32.43%) |
| Total Shares Offered | 6,800,000 (100%) |
Drone Destination IPO raises Rs 12.27 crore from anchor investors. Drone Destination IPO Anchor bid date is July 6, 2023. Drone Destination IPO Anchor Investors list
| Bid Date | July 6, 2023 |
| Shares Offered | 1,888,000 |
| Anchor Portion Size (In Cr.) | 12.27 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 17, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 16, 2023 |
Drone Destination IPO opens on July 7, 2023, and closes on July 13, 2023.
| IPO Open Date | Friday, July 7, 2023 |
| IPO Close Date | Thursday, July 13, 2023 |
| Basis of Allotment | Tuesday, July 18, 2023 |
| Initiation of Refunds | Wednesday, July 19, 2023 |
| Credit of Shares to Demat | Thursday, July 20, 2023 |
| Listing Date | Friday, July 21, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 13, 2023 |
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹130,000 |
| Retail (Max) | 1 | 2000 | ₹130,000 |
| HNI (Min) | 2 | 4,000 | ₹260,000 |
| Lot Size Calculator | |||
Mr. Chirag Sharma and Ms. Shashi Bala are the Promoters of the Company.
| Share Holding Pre Issue | 85.14% |
| Share Holding Post Issue | 62.31% |
Incorporated in 2019, Drone Destination Limited is India's leading Drone as a Service and Training Company. The entity is a DGCA-authorized Remote Pilot Training Organisation (RPTO) offering Certified training programs at multiple locations pan-India.
The company became the first Drone Training Partner of the National Skill Development Corporation (NSDC) in Oct 2022. They have the largest Training network in India in their segment. Drone Destination Limited offers a variety of services including:
Drone Destination has key partnerships with IGRUA, IFFCO, IIT Patna, NSDC, Neo-Geo, and Matrix-Geo. They have More than 80 Clients from Private as well as Government Sectors. The company is a Leading SVAMITVA Player engaging in survey and mapping in India and is reputed as the largest in Karnataka and Gujarat.
The drones offered by the company are marketed under the names - Star Guru, Star Edge, Sky Star, Agristar, Agri Mapper, Star Eye, and Laser Star. All these have their distinct features and entail different requirements of the customers.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-21 | 96.34 | 39.33 | -4.56 | 2.42 | -8.58 | 9,794.46 |
| 31-Mar-22 | 278.30 | 257.16 | 20.73 | 23.15 | 12.15 | 151.09 |
| 31-Mar-23 | 2,359.33 | 1,207.73 | 244.19 | 1,757.34 | 1,257.34 | 159.17 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of Drone Destination IPO is Rs 157.95 Cr.
| KPI | Values |
|---|---|
| ROE | 13.90% |
| ROCE | 18.65% |
| Debt/Equity | 0.06 |
| RoNW | 13.90% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 25.8 | |
| P/E (x) | 64.35 |
The Company proposes to utilize the funds towards funding the following objects:
[Dilip Davda] The company operates in a competitive segment with rising players. The sudden boost in its net profits for FY23 raises eyebrows and concerns over sustainability going forward. Based on the super earnings of FY23, the issue appears aggressively priced. Surprised extension of the IPO, two Market Makers and a new merchant banker are the pin-pointers. Well-informed/cash surplus investors may park funds with a long-term perspective. Read detail review...
The Drone Destination IPO is subscribed 191.65 times on July 13, 2023 7:29:00 PM. The public issue subscribed 250.09 times in the retail category, 50.46 times in the QIB category, and 243.85 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 50.46 |
| NII | 243.85 |
| Retail | 250.09 |
| Total | 191.65 |
Total Application : 275,728 (250.21 times)
| Listing Date | July 21, 2023 |
| BSE Script Code | |
| NSE Symbol | DRONE |
| ISIN | INE0P7201019 |
| Final Issue Price | ₹65 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹65.00 |
| ₹107.45 |
| ₹102.10 |
| ₹107.95 |
| ₹102.10 |
Drone Destination Limited
C-13, Ground Floor,
Panchsheel Enclave,
Delhi - 110017
Phone: 011-41050607
Email: cosec@thedronedestination.com
Website: http://www.thedronedestination.com/
Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: investor.ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues
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Check our SME IPO Guide 
Drone Destination IPO is a SME IPO of 6,800,000 equity shares of the face value of ₹10 aggregating up to ₹44.20 Crores. The issue is priced at ₹62 to ₹65 per share. The minimum order quantity is 2000 Shares.
The IPO opens on July 7, 2023, and closes on July 13, 2023.
Maashitla Securities Private Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Drone Destination IPO using UPI as a payment gateway. Zerodha customers can apply in Drone Destination IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Drone Destination IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Drone Destination IPO opens on July 7, 2023 and closes on July 13, 2023.
Drone Destination IPO lot size is 2000 Shares, and the minimum amount required is ₹130,000.
You can apply in Drone Destination IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Drone Destination IPO will be done on Tuesday, July 18, 2023, and the allotted shares will be credited to your demat account by Thursday, July 20, 2023. Check the Drone Destination IPO allotment status.
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